For personal use only
Appendix 4D
Half year report
Appendix 4D
Half Year Report
to the Australian Securities Exchange
1. Details of the reporting period and the previous corresponding period
Name of Entity : | 1414 DEGREES LIMITED | |
ABN : | 57 | 138 803 620 |
Half Year Ended : | 31 | Dec 2021 |
Previous Corresponding Reporting Period: | 31 | Dec 2020 |
2. Results for announcement to the market
31 Dec 2021 | 31 Dec 2020 | Change | Change | ||
Key Information | AUD$ | AUD$ | % | AUD$ | |
2.1 | Other income | 165,406 | 302,674 | (45%) | (137,268) |
2.2 | Profit/(Loss) from ordinary activities after tax attributable to members | (3,256,210) | (1,327,795) | 145% | (1,928,415) |
2.3 | Net Profit/ (Loss) for the period attributable to members | (3,256,210) | (1,327,795) | 145% | (1,928,415) |
Franked amount per | |||||
2.4 | Dividends | Amount per security | security | ||
Interim Dividend | Nil | Nil | |||
Final Dividend | Nil | Nil |
- Record date for determining entitlements to the dividends (if any):
Not Applicable - Brief explanation of any of the figures reported above necessary to enable the figures to be understood:
Please refer to the Review of Operations contained in the Directors' Report which forms part of the attached Interim Financial Report for details.
3. Net tangible assets per ordinary share
31 Dec 2021 | 31 Dec 2020 | |
Security | AUD (Cents) | AUD (Cents) |
Ordinary shares | 3.08 | 5.25 |
4. Control gained or lost over entities during the period, and those having material effect
Not Applicable
Page 1
For personal use only
Appendix 4D
Half year report
5. Details Relating to Dividends
Information | 31 Dec 2021 | 31 Dec 2020 |
Date the dividend is payable : | n/a | n/a |
Record date to determine entitlement to the dividend : | n/a | n/a |
Amount per security (AUD Cents) : | n/a | n/a |
Total dividend (AUD$) : | n/a | n/a |
Amount per security of foreign sourced dividend or distribution : | n/a | n/a |
6. Dividend or distribution reinvestment plan details
Information | 31 Dec 2021 | 31 Dec 2020 |
Details of any dividend reinvestment plans in operation : | n/a | n/a |
The last date for receipt of an election notice for participation in any dividend reinvestment plans : | n/a | n/a |
- Details of Associates and Joint Venture Entities
Not applicable. - Foreign entities
Not applicable. - Audit dispute or qualification
The interim financial statements for the period ended 31 December 2021 have no audit dispute or qualification. - Attachments Forming Part of Appendix 4D
Attachment Number | Details |
1 | Interim Financial Reports |
Signed By Company Secretary
Tania Sargent
Date: | 24 February 2022 |
Page 2
1414 DEGREES LIMITED
ACN 138 803 620
INTERIM FINANCIAL REPORTS
FOR THE HALF-YEAR ENDED
31 DECEMBER 2021
1414 DEGREES LIMITED
ACN 138 803 620
INTERIM FINANCIAL STATEMENTS
FOR THE HALF-YEAR ENDED 31 DECEMBER 2021
CONTENTS | |
Page | |
Directors' Report | 1 |
Statement of Profit or Loss and Other Comprehensive Income | 3 |
Statement of Financial Position | 4 |
Statement of Cash Flows | 5 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
Directors' Declaration | 10 |
Independent Auditor's Report | 11 |
Auditor Independence Declaration | 13 |
Page 1
1414 DEGREES LIMITED
ACN 138 803 620
DIRECTORS' REPORT
FOR THE HALF-YEAR ENDED 31 DECEMBER 2021
The directors of 1414 Degrees Limited present their report on the group for the half year ended 31 December 2021.
DIRECTORS
The following persons were directors of 1414 Degrees Limited during the whole of the half year and up to the date of this report, unless otherwise stated:
Tony Sacre - Chairman and Non-Executive Director Dana Larson - Non-Executive Director
Peter Gan - Non-Executive Director
Kevin Charles Moriarty - Resigned as Director 19 July 2021 and as Executive Chairman 2 September 2021
COMPANY SECRETARY
Tania Sargent
The directors of 1414 Degrees Limited present their report on the group for the half year ended 31 December 2021.
REVIEW OF OPERATIONS
The first half of the 2022 financial year was a period of review, stabilization, and renewal. Significant progress was made across the two core project activities within the company with the introduction of high-calibre partners: Woodside and Ovida. These partners provide not only short-term funding support to activities, they will enhance the company's potential long term commercial success.
Silicon based Thermal Energy Storage technology / SiBox Demonstration Module project
The company's SiBox silicon-based thermal energy storage technology has continued to advance with the ongoing testing of storage media and completion of design activities. In October, agreements were executed with Woodside Energy Technologies that will see them fund $2 million in future costs to construct the 1MWh SiBox demonstration module. Procurement activities have started and we will be commencing fabrication and construction activities throughout the second half of this financial year. The SiBox demonstration module is expected to be commissioned in early 2023 ready for extended performance testing and evaluation thereafter before Woodside make the decision whether to participate further in ownership of the company's technology.
The SiBox technology offers a scalable and flexible solution to the firming of renewable energy, and the delivery of decarbonized heat. The potential significance of its future commercial use was underscored when the company was announced as a successful recipient of a $2.2 million grant under the Commonwealth Government's Modern Manufacturing Initiative. These funds will be used to further progress the SiBox towards commercialization.
Aurora Energy Project (AEP) - Port Augusta
SiliconAurora Pty Ltd, a 100% owned subsidiary of the company, was successful in its application to vary the development approvals at AEP which now paves the way for future investment in the project. The variation approved from the South Australian Minister for Planning and Local Government also allows for the addition of a 140MW/280MWh battery energy storage system (BESS), thermal energy storage and 33kV transmission line grid connection. This is in addition to the pre-existing approvals for 150MW Concentrated Solar Power (CSP), 70MW Solar Photo-Voltaic (PV) and 275kV connection to the network.
In December the company executed an MoU with Ovida Infrastructure Pty Ltd (Ovida) to explore partnering on the development of the AEP. Ovida is a 100% owned subsidiary of Jemena Ltd (Jemena), one of Australia's largest owners and operators of energy infrastructure with over $11 billion of assets under management and approximately 2,500 employees. We are now working closely with the team at Ovida on the progression of the AEP and are looking to execute binding agreements during the remainder of this financial year.
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1414 Degrees Ltd. published this content on 23 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 23:51:01 UTC.